‘Into the valley of death rode the six hundred!’
More toing and froing last night with the Zombies a little worried about the situation in the Ukrane while the Yanks more focussed on what the world’s most powerful woman had to say. That’s Yellen not Screaming.Record close on Wall Street ,they don’t care about the Russians anyway,seems that Yellen is happy to taper and happy to pull back on that if circumstances deteriorate. Seems pretty logical to me. Dow is up 0.3% for the year!Wow!
After yesterday’s pullback we look set to edge higher but suspect March will be a difficult month,or at least more difficult then February. Lots of stocks going ex and the reasons to buy them doing the same. Would not be surprised to see some sideways movement for a few weeks.
Idea of the Day
Here’s a question why are Spanish and Italian 10 year bonds lower than Australia? Would you prefer to lend money to them at 3.5%, lowest since 2006, or to Joe Hockey at 4.05%? Tricky one eh?Oh and the US ten year is 2.64%
Things to make me go mmmm!!
QANTAS-Great plan Alan sack 5000..pay $500m in redundancy costs. Take on the unions! Destroy Morale! And then what..think we need to know…
Looking at the results from Virgin this morning ok they lost $50m but have restructured beaten their competition (QAN) on total group revenue, Domestic Yield, International yield and load factor. Looks like John has a plan..and it seems to be working.
Seems that business investment collapsed after the coalition victory…not a good thing I suspect..Numbers yesterday show that investment dropped 5.2% in the three months after they took office. Worse since the GFC…14/15 doesn’t look too flash either…has anyone out there got a plan?
Telstra not going to share its toys with anyone…and talking of Telstra…anyone remember the Mexican..he had a fabulous way to upset the government and the unions,remind you of anyone. Then David Thodey came along and has quietly rebuilt the image brand and business of Telstra..see it can be done…and look at the share price now!!
Oil Search will spend $US900 million acquiring expansion options for the PNG LNG project as the venture moves closer to start-up.
Oil Search said it will acquire a 23 per cent stake in the Elk/Antelope gas discoveries, which the Canadian based InterOil has been seeking to develop. At the same time, the PNG government will buy 149.3 million Oil Search shares at $8.20 a share which will help to fund the acquisition.
Silver Lake raised A$39m by placement of 65.6m new shrs at A$0.60 each. Back on today!
There’s a new kid on the block to fund your start up.Westpac has decided to invest up to $50 million in early stage funding of technology start-ups. Bout time someone looked at this
Things are hotting up in the Black Sea with a couple of Russian battleships now on station plus one has docked in Cuba! RasPutin is certainly stretching his military muscle ,hot on the heels of their successful Olympics.Any students of history will know that in the Crimea ,superpowers collide..have always done and always will…now that the Ukrainians have all that access to gas it makes life even more interesting.
And the US man John Kerry has admitted that America is “beginning to act like a poor nation.” $17.5 trillion in the hole does that to you I guess!
Spotted this one on Bloomberg and my fellow market commentator Richard Morrow was kind enough to send it to me to remind me..talking of the US shale miracle changing the world ..or is it?
”Just a few of the roadblocks: Independent producers will spend $1.50 drilling this year for every dollar they get back. Shale output drops faster than production from conventional methods. It will take 2,500 new wells a year just to sustain output of 1 million barrels a day in North Dakota’s Bakken shale, according to the Paris-based International Energy Agency. Iraq could do the same with 60.”
And finally….I know you like these the best…thanks to my fans for their endless stream of great jokes, Hans Marilyn, Barry and Andrew amongst others…
After having their 11th child, an Irish couple decided that that was enough, as they couldn’t afford a larger bed.
So the husband went to his doctor and told him that he and his wife didn’t want to have any more children…
The doctor told him there was a procedure called a vasectomy that would fix the problem but it was expensive. A less costly alternative was to go home, get a large firecracker, light it, put it in a beer can, then hold the can up to his ear & count to 10.
The husband said to the doctor, “B’Jayzus, I may not be the smartest guy in the world, but I don’t see how putting a firework in a beer can next to my ear is going to help me with my problem.”
”Trust me, it will do the job”, said the doctor.
So the man went home, lit a cracker and put it in a beer can. He held the can up to his ear and began to count: ”1, 2, 3, 4, 5,” at which point he paused, & placed the beer can between his legs so he could continue counting on his other hand.
This procedure also works in New Zealand and Tasmania
“Some one had blunder’d.
Theirs not to make reply,
Theirs not to reason why,
Theirs but to do and die.
Into the valley of Death
Rode the six hundred.”
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